Fact:
Only about 25% of grocery aisle items contain corn, according to the USDA. Further, corn accounts for very little of the retail cost of foods like cereals, snacks and beverages. Therefore, fluctuations in the price of corn are not often reflected in the retail prices for these items. As an example, a standard box of corn flakes contains approximately 10 ounces of corn, or about 1/90th of a bushel. Even when corn is priced at $4 per bushel, a box of corn flakes contains less than a nickel's worth of corn. A Texas A&M report recently concluded that, "Important food items like bread, eggs, and milk have high prices that are largely unrelated to ethanol or corn prices, but to fundamental supply/demand relationships in the world."

Source:: USDA, Texas A&M